Match Group shares plunged 18 percent on Wednesday after the company gave fourth-quarter revenue guidance that missed estimates, and spooked investors.
The company, which owns several dating services including Tinder and Match.com, said after the bell on Tuesday that it expects revenue between $440 million and $450 million for the quarter that ends in December. Analysts were estimating $454 million in revenue, according to data from Refinitiv.
Match Group attributed its weak forecast to a strong U.S. dollar, and impacts from the European Union's General Data Protection Regulation (GDPR) privacy law.
However, the company's third-quarter earnings and revenue results beat estimates. Match reported earnings of 39 cents per share on $443.9 million in revenue, while Wall Street expected earnings of 36 cents per share on $438.1 million in revenue, according to data from Refinitiv. The beat was largely due growth at Tinder, which added 344,000 subscribers in the third quarter.
Shares of Match Group have jumped by over 35 percent this year.
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